Crypto market update ✍️
Good evening to all my friends. I hope you all are doing well. I am having a fantastic day. I was on a vacation and just two days ago came back. Today i am going to talk about Bitcoin dominance and also discuss the performance of altcoins. So first of all, if we talk about Bitcoin dominance—around three weeks ago on April 25, 2025, Bitcoin dominance was nearing its top. At that time, it was trading around 64.39%, which was the yearly high. Also, the monthly momentum was trading near a resistance level that has held strong for the past 9 years. Currently, we’re seeing a rejection from the same resistance level that has historically triggered corrections in Bitcoin dominance and kickstarted altcoin rallies. While we came close this time, the resistance wasn’t fully tested, which can indicate market weakness—meaning the momentum wasn’t strong enough to even reach that level.
Looking at past cycles like in 2019 and 2017, we can see similar patterns where Bitcoin dominance hit its peak, failed to break above resistance, and then declined, leading to parabolic altcoin runs. Currently, Bitcoin dominance is still trading above 60%, but if it drops to around 56%—a key Fibonacci retracement level—we might see a significant boost in altcoin performance. This level acted as a strong resistance before and could now act as support. However, if dominance breaks below 56%, the next major level is 51%, which historically triggered free falls in Bitcoin dominance and massive altcoin surges. So if you're looking to time your exit in this cycle, keep an eye on the 56–51% range for potential altcoin highs. That's it for today. Thanks & have a good day!!